Brokerages Set TE Connectivity Ltd. (NYSE:TEL) Price Target at $159.55

Shares of TE Connectivity Ltd. (NYSE:TEL - Get Free Report) have earned a consensus recommendation of "Hold" from the twelve ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $159.55.

Several equities research analysts have recently weighed in on the company. Hsbc Global Res lowered TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. Bank of America lowered their target price on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Wells Fargo & Company decreased their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a research note on Friday, September 20th. Finally, HSBC cut TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st.

Hedge Funds Weigh In On TE Connectivity

A number of large investors have recently made changes to their positions in TEL. Simplicity Wealth LLC increased its position in shares of TE Connectivity by 2.7% in the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker's stock valued at $377,000 after buying an additional 67 shares in the last quarter. Silvercrest Asset Management Group LLC increased its holdings in TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker's stock valued at $432,000 after acquiring an additional 68 shares in the last quarter. Optas LLC lifted its holdings in shares of TE Connectivity by 4.2% in the third quarter. Optas LLC now owns 1,778 shares of the electronics maker's stock valued at $268,000 after purchasing an additional 71 shares in the last quarter. Gradient Investments LLC grew its position in shares of TE Connectivity by 2.2% in the second quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker's stock valued at $542,000 after purchasing an additional 76 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in shares of TE Connectivity by 3.4% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker's stock worth $346,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Down 0.9 %

NYSE:TEL traded down $1.25 during mid-day trading on Wednesday, hitting $145.70. The stock had a trading volume of 245,500 shares, compared to its average volume of 1,819,726. TE Connectivity has a twelve month low of $128.52 and a twelve month high of $159.98. The stock has a 50-day simple moving average of $148.63 and a two-hundred day simple moving average of $149.45. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $43.59 billion, a PE ratio of 14.31, a PEG ratio of 2.02 and a beta of 1.33.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts' consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company's revenue was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that TE Connectivity will post 8.13 EPS for the current year.

TE Connectivity announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

TE Connectivity Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be given a $0.65 dividend. This represents a yield of 1.75%. The ex-dividend date is Friday, November 22nd. TE Connectivity's payout ratio is 25.32%.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.